See the monthly chart of crude oil and you can see the further downside inevitable, then what could be the bottom

I am a great fan of ELLIOTT WAVES and GANN.

hereafter will not witness crude prices above 62 USD in 2015,
but come 2016 and middle of 2016 we can see the prices surge to 71 USD from 40 usd.

112

10.58301

4

6.583005

0.25

6.333005

40.10696

Another way

112
107.64
4.36
0.62
2.7032
P. low 42.60-42.80
42.8-2.7
40.1